Monitoring Agency Report

» i v Sanstar Limited Reg Ad h. dC aor bp a. Of —f i 3c 8e 0: 0“ 7S ,an Gs ut ja ar H ato u (s Ine d” aN )r . PP ha or nim ea l +U 9n 1d e 7r B -ri 2dg 6e, O 5pp 1/. 0S 1u /v 92i 1d h Fa xS h o +p 9p 1i n 7g -C 2e 6n 6tr 5e 1, 2P 2al di, CIN : U15400GJ1982PLC072555 E-Mail : sanstar@sanstar.in Website : www.sanstar.in Date: 13th August, 2026 BSE Limited, DP ah li ar lo z Ste r eJ ee te ,j eebhoy Towers, N Ea xt ci ho an na gl e S Pt lao zc ak , E Plx oc th Na on .g Ce / 1o ,f GIn Bd li oa c kL ,i mited Bandra-Kurla Complex, Mumbai — 100 001 Bandra (E), Mumbai - 400 051 Scrip Code: 544217 Symbol - SANSTAR Dear Sir/Madam, Sub: Monitoring Agency Report for the first quarter ended June 30, 2026 of the Company Ref: 1. DR ie sg cu ll oa st ui ro en R3 e2 q( u6 i) o ef t eh ne sS )e c Ru er gi ut li ae ts ia on nd E 2x 0c 1h 5a ;n ge Board of India (Listing Obligations and 2. DR ie sg cu ll oa st ui ro en R4 e1 q( u4 i) eo mf t nh te )S e Rc eu gr ui lt ai te is a nsn ,d 2E 0x 1c 8h ange Board of India (Issue of Capital and q LP iuu mar irs ttu eea drn t te ont d mo e ot d nh ie o t na o b rJo u tv n he e e r u3e t0f i,e l r i2 zr 0 ae 2 td i, 6 o np d l a oe t fa e ps d re o1f ci 3 en t ed d Ae sun g oc u fl s o tts h,e e d 2 P 0 rt 2 eh 6 fe , e rM i eo s nn s ti u it e ao ldr Ibi syn s g uA ecA .u g ie tn éc Ry a tR ie np go sr t a nf dor Rt eh se e aFi rr cs ht The above is being made available on the Company's website i.e. www.sanstar.in. You are hereby requested to take the above information on your records. Thanking you. Yours faithfully, For, Sanstar Limited Fagun Harsh Shah Company Secretary & Compliance Officer Membership No.: -62163 Encl: - Monitoring Agency Report Factory (( 21) ) :: G "u Sl aa nb sp tu ar ra N. a V gi al rl ”ag Se u: kK ha pr av ra n Rd o, a dT ,a l Pu ok sa t ; SS uh kir ap pu ar r, , D Vi ist l. l a: g eD Mh oru ga— rl ,4 2e T5 a l4 u0 k5 a, BM ha ah ca hr aa us .h t Dr isa t .( I Kn ud tia c) h -370 020. Gujarat (India) Report of the Monitoring Agency (MA) Name of the issuer : Sanstar Limited For quarter ended : Q1 FY2026-27 Name of the Monitoring Agency : Acuité Ratings and Research Limited (a) Deviation from the objects : No deviation is observed. (b) Range of Deviation : Not applicable. (C) Any other material fact to be highlighted : None Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Vikas Mishra Deputy Vice President - Process Excellence Report Date: August 13, 2026 1. Issuer Details: Name of the issuer : Sanstar Limited Names of the promoter : Mr. Gouthamchand Sohanlal Chowdhary, Mr. Sambhav Gautam Chowdhary and Mr. Shreyans Gautam Chowdhary Industry/sector to which it belongs : Other Agricultural Products / Fast Moving Consumer Goods 2. Issue Details: Issue Period : June 23, 2026, to June 25, 2026 Type of issue : Preferential Issue Type of specified securities : Equity Shares IPO Grading, if any : Not applicable Issue size (INR Cr.) : 198.27 Report Date: August 13, 2026 3. D etails of the arrangement made to ensure the monitoring of issue proceeds Source of information / Sr. certifications considered by Comments of the Comments of the Issuer’s Particulars Reply from the issuer No. Monitoring Agency for Monitoring Agency Audit Committee preparation of report Whether all utilization is as per the disclosures in No comment 1 Yes Yes the Offer Document? Whether shareholder approval has been Material deviation is not No comment 2 obtained in case of material deviations from Not applicable observed. expenditures disclosed in the Offer Document? No comment Whether the means of finance for the disclosed 3 No No change is observed. objects of the issue has changed? The issuer had not No comment Is there any major deviation observed over the 4 No appointed any other earlier monitoring agency reports? Monitoring Agency earlier. Documents submitted by the Issuer, including No Government / Statutory No comment Whether all Government/statutory approvals 5 Not applicable Statutory Auditors Certificate approval is required for related to the object(s) have been obtained? issued by SC Bapna and objects. Associates, and Disclosures No arrangement pertaining No comment Whether all arrangements pertaining to published on Stock to technical assistance / 6 technical assistance/collaboration are in Not applicable Exchange. collaboration is required operation? with reference to the object. No favorable event is Are there any favorable events improving the No comment 7 No observed that may improve viability of these object(s)? the viability of these objects. No unfavorable event is No comment Are there any unfavorable events affecting the 8 No observed affecting the viability of the object(s)? viability of these objects. No relevant information is No comment Is there any other relevant information that evident that may materially 9 may materially affect the decision making of No affect the decision making the investors? of the investors. Report Date: August 13, 2026 4. Details of object(s) to be monitored: i. Cost of object(s) Original cost Source of information / Comments of the Issuer’s Audit Committee (as per the Revised Comments of Sr. Item certifications considered by Offer Cost the Monitoring No. Head Monitoring Agency for Reason of Proposed Document) (INR Cr.) Agency Particulars of firm preparation of report Cost financing (INR Cr.) arrangement revision option Documents submitted by the No Change NA NA Working Capital No change is 1 Issuer, including Statutory 149.20 - Requirements observed. Auditors Certificate issued by SC Bapna and Associates, and 2 General Corporate Disclosures published on Stock 49.07 - No change is No Change NA NA Purposes Exchange. observed. Total 198.27 - Report Date: August 13, 2026 ii. Progress in the object(s) – Source of Amount utilized Comments of the Issuer’s information / (INR Cr.) Audit Committee Amount as certifications Total proposed Amount Comments of the Sr. considered by unutilized Item Head [Showing first 8,000 characters — download PDF for full document]